3 Lessons We Should Learn From the Space-Bound Billionaires
Jeff Bezos, Richard Branson and Elon Musk have all traveled to space. Here's what we can learn from them.
Billionaires are heading to space! It’s amazing to live in a time when things as momentous as space travel can be done by the free market, rather than being the preserve of the government alone. The competition and innovation of the private sector in this field likely mean that ordinary people will one day be able to soar among the stars. Who knows, maybe we will be holidaying in space in the not too distant future?
Despite all these positives, some people have criticized Jeff Bezos, Richard Branson and Elon Musk for their efforts. To some, this is nothing more than an ego trip, and they feel the money should be put to better use here on earth. Unfortunately for these critics, however, it isn’t their money!
I argue that rather than criticize, we should all be inspired. Here are three lessons we should all learn from these unlikely astronauts.
1. Think bigger
In the business world, it can be tempting to aim lower rather than shooting for the moon. That way, many think, it is easier to succeed and harder to fail. In fact, the opposite is true. If you have a big goal and you only reach half of it, you will have reached further than if you met 100% of a tiny goal. Elon Musk wants to make humans a multi-planetary species; that is a huge goal. Whether he reaches it or not, he will advance technology and space travel enormously in the attempt alone.
Of course, it is also important to have small short-term goals and to get them done. Getting things moving immediately is what adds up over time to create something huge. But always have that big goal out there as your ultimate ambition, and don’t let anyone tell you that you can’t do it.
2. Have longer time horizons
Richard Branson’s Virgin Galactic started in 2004 and only had its first full crew flight this year (2021)! Many people are looking for things to happen immediately. They want results yesterday, and when they don’t get them, they give up. Having a long-time horizon and taking action today that will pay off many years down the line is how real success is built.
While it is necessary to see progress along the way and essential that you are taking actual productive action, rather than engaging in busy work, results don’t have to be immediate. Be prepared to put the work in now so that you can achieve something amazing further down the road.
3. Money creates freedom
Money allows you to do the things you want to do and change the things you want to change. Those people criticizing billionaires’ choices should work to put themselves in a position where they can choose which projects to fund. As a multimillionaire, I have the freedom to fund charitable projects in Africa that speak to me. I am able to help people learn about the property industry with my YouTube channel, books, articles and training programs. Whatever cause or project is important to you in this world, it requires capital. If you think billionaires are misspending their money, be inspired to make your fortune and decide how best to allocate it.
Entrepreneur Leadership Network Contributor